US EIA revises monthly natgas data for January-March

[NEW YORK] The US Energy Information Administration said it under-reported monthly natural gas output for the three months from January to March 2015 by about 1.5 billion cubic feet per day (bcfd).

The US Energy Information Administration said it will correct the monthly data as soon as possible.

EIA said late Tuesday that dry gas production for the first quarter of 2015 is now estimated to be about 73.5 bcfd.

When the monthly production report, known in the industry as the 914 report, was released on May 29, gas traders and analysts said they were surprised by a sharp downward revisions to January production.

In the May report, EIA revised production in the lower 48 US states for January down to 80.27 bcfd from a previously revised 82.16 bcfd in the April report.

The EIA said the error was caused by an adjustment for carbon dioxide produced in the "Other States" category that did not properly account for required changes in the gross-to-marketed calculation used in preparation of data.

The EIA is in the midst of a transition in its monthly production reports, expanding detailed reporting of gas production to more states.

In contrast to the EIA's data prior to 2015, gross withdrawals reported for 2015 exclude volumes produced from carbon dioxide wells.

For certain states, the EIA said the May 29 computations double-counted the carbon dioxide removed from gross production, resulting in a lower level of marketed and dry gas production than should have been reported in May.

The EIA said marketed production is calculated as gross production less non-hydrocarbon gases, vented and flared gas, and reinjected gas.

REUTERS